Coronavirus: Sadiq Khan urges government to extend business relief March 17, 2020 Sadiq Khan has asked Boris Johnson for vastly increased financial relief for London businesses affected by the coronavirus outbreak. The mayor of London wrote to Johnson today to ask that “greater levels of assistance to businesses, large and small” is given through through tax breaks and cash handouts during the outbreak. Khan has specifically called [...]
Laura Ashley collapses after coronavirus hits trading March 17, 2020 High street retailer Laura Ashley has collapsed into administration due to the outbreak of coronavirus. The company announced this morning that the outbreak had “an immediate and significant impact on trading”, and the retailer was unable to secure third party backing or additional financial support from main shareholder Mui Asia. Laura Ashley said it has [...]
Coronavirus: France could nationalise big companies if necessary, says finance minister March 17, 2020 The French government is prepared to “use all means available” to support big companies struggling with the impact of market turmoil linked to coronavirus, including nationalisation, the finance minister said today. “I won’t hesitate to use all means available to protect big French companies,” Finance Minister Bruno Le Maire said on a call with journalists [...]
UK unemployment rises ahead of coronavirus hit March 17, 2020 UK unemployment rose in the three months to January although Britain continued to add jobs, suggesting the labour market tightened before coronavirus began to spread through the country. Unemployment rose to 3.8 per cent, up 0.2 percentage points from the previous quarter. Yet the employment rate also rose, hitting 76.5 per cent, a joint record [...]
Coronavirus: Pub stocks plunge on ‘stay home’ advice March 17, 2020 Pub stocks plummeted this morning following government advice for the public to avoid pubs and restaurants to slow the spread of coronavirus. The hospitality sector yesterday branded the government’s decision to urge people to stop going to venues without offering any additional help for businesses “catastrophic”. Pub operator Marston’s share price dropped more than 28 [...]
Universal to release films online due to coronavirus spread March 17, 2020 Universal Pictures said it will make its films available online the same day they are released in the cinema, as the coronavirus keeps people worldwide in lockdown. The decision by Comcast-owned NBCUniversal, will take effect from 10 April with the release of Dreamworks Animations firm Trolls World Tour. The move ends the traditional approach of [...]
Nationwide suffers another glitch delaying all incoming payments March 17, 2020 Nationwide has delayed all incoming faster payments due to a fault in its system, just months after a glitch which held all payments in a queue. The building society has said that all incoming payments are delayed to due a fault, and are yet to confirm how long the delay will be. On Twitter, Nationwide [...]
UK budget watchdog: No time to be ‘squeamish’ about big coronavirus spending March 17, 2020 Britain’s economy faces a “wartime situation” and the government must not be “squeamish about one-off additions to public sector debt,” the head of Britain’s fiscal watchdog has said. Robert Chote, head of the Office for Budget Responsibility (OBR), told MPs that a big fiscal package to support the UK’s businesses and households would be “money [...]
M&C Saatchi bolsters board as bidders line up after accountancy crisis March 17, 2020 M&C Saatchi today said it has appointed two independent non-executive directors amid reports that potential suitors are lining up bids for the troubled advertising agency. Lisa Gordon and Louise Jackson will join the board with immediate effect, the company said. Gordon currently holds non-executive director positions at foreign exchange specialist Apha FX and children’s TV [...]
Travelex owner Finablr planning for ‘potential insolvency’ March 17, 2020 Finablr, the owner of foreign exchange firm Travelex, has appointed advisers to prepare for a possible insolvency after the FTSE 250 company became mired in an accounting scandal. In an update to the stock exchange this morning, Finablr’s board said it had engaged an accounting firm “to undertake rapid contingency planning for a potential insolvency [...]